U.S. stock futures are slightly higher in premarket trading as traders digested tech earnings and the latest Federal Reserve rate decision.

Meta Platforms (META) and Tesla (TSLA) shares are popping after earnings but Microsoft (MSFT) is under pressure ahead of the opening bell.

The Fed left interest rates unchanged at 3.5%-3.75% at yesterday’s meeting, which was widely expected. In its post-meeting statement, the policy-setting Federal Open Market Committee said that indicators are suggesting that “economic activity has been expanding at a solid pace” and that the unemployment rate “has shown some signs of stabilization.” 

Snapshot (as of 7 AM ET)

• Oil (/CL) – Oil futures are up over 2.5% at $64.80 a barrel, hitting a four-month high on rising concerns of the potential ‍impact a possible U.S. ‍military attack on Iran, OPEC’s ‍fourth-largest producer, with output of 3.2 million barrels per day. U.S. President Donald Trump has increased pressure on Tehran to end its nuclear program, with threats of military strikes and the arrival of a U.S. naval group in the region.
• Gold (/GC) – Gold Futures are up 4% near $5550 and hit another record high overnight above $5,600-an-ounce, as investors sought refuge from escalating geopolitical tensions and weakening economic signals in the ‍United States. Gold has gained 28% so far this year as policy uncertainty in the United States, coupled with elevated geopolitical tensions, a falling Dollar and economic uncertainty, have prompted investors to seek safety ⁠in the yellow metal. Silver (/SI) also benefited from ‍the flight to safety, ‍leaping above the $120 level, a new record high.
• Bitcoin (/BTC) – The Crypto Future is down 1.5% near 87,700 in premarket trading.
• VIX – The CBOE Volatility Index was flat on Wednesday and settled at 16.35 as stocks were muted.
• U.S. Dollar (/DX) – The dollar is down slightly to 96.2.

Biggest Premarket Movers (as of 7 AM ET - Mark % Change)

1. IBM (IBM): +8.85%
2. Meta Platforms (META): +8.51%
3. Royal Caribbean (RCL): +6.65%
4. Southwest Airlines (LUV): +5.24%
5. Freeport-McMoRan (FCX): +5.15%

1. ServiceNow (NOW): -8.96%
2. Microsoft (MSFT): -6.88%
3. Las Vegas Sands (LVS): -6.71%
4. First Solar (FSLR): -6.39%
5. L3Harris (LHX): -5.08%

Economic Data

• 8:30 AM ET: Intl. Trade in Goods - Delayed, Jobless Claims, Productivity & Costs - Delayed
• 10:30 AM ET: Natural Gas Inventories
• 1:00 PM ET: 7-Year Note Auction

Notable Earnings

• Premarket: AOS, MO, BX, BC, CAT, CMCSA, DOV, DOW, GPI, HON, LHX, LMT, MAN, MA, NDAQ, NSC, OSK, PH, PHM, RCI, RCL, SNY, SHW, LUV, SJM, STM, TMO, TSCO, TT, VLO, VIRT, XRX
• Postmarket: AAPL, AJG, BZH, DECK, EMN, HIG, KLAC, OLN, RHI, SNDK, SAP, SNDR, SYK, V, WDC, WY
• Premarket Tomorrow: APD, AXP, AON, ALV, CNI, CHTR, CVX, CHD, CL, XOM, IMO, LYB, REGN, SOFI, VZ
• Postmarket Tomorrow: None

Upgrades/Downgrades

• Summit Insights upgrades Lam Research (LRCX) to Buy from Hold
• Barclays upgrades ASML (ASML) to Overweight from Equal Weight
• DZ Bank upgrades General Motors (GM) to Buy from Hold
• BMO Capital downgrades First Solar (FSLR) to Market Perform from Outperform

This material is intended for informational purposes only and should not be considered a personalized recommendation or investment advice. Investors should review investment strategies for their own particular situations before making any decisions.

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Data contained herein is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. All events and times listed are subject to change without notice.